Bullzi Security Announces $131,141 Profit for 1st Quarter
July 02 2008 - 11:00AM
Marketwired
LAKE MARY, FL , a leading information security provider,
announces a first quarter profit of $131,141. Bullzi Security has
also posted its 2007 year-end financials, 1Q08 financials, and an
updated Information Statement on the Pink Sheets News Service
today.
Thomas Welch, co-founder and President of Bullzi Security, says,
"We're excited to announce that we've posted profits of $131,144
for the 1st Quarter of 2008 on revenues of $296,310. From a revenue
perspective, this is a 25% increase over 1Q07 revenues of $235,911.
More importantly, we've gone from a $68,346 loss in 1Q07 to the
$131,144 gain in 1Q08. The objective for 2008 was to cut expenses
and to focus on new sales. We achieved this goal for the first
quarter and expect to have similar results for the 2nd Quarter of
2008. Because of regulatory programs, such as NERC, SOX, GLBA, and
HIPPA, we're expecting sales to increase for the balance of 2008,
especially sales related to security awareness training."
Mr. Welch went on to say, "As of June 30, 2008, Bullzi Security
had $270,969 in Receivables and $241,224 in Payables. We're
currently cash-flow positive and have no intentions of raising any
additional capital in the near term. We decreased our burn-rate to
approximately $60,000/month, thus our operational costs for each
quarter are now less than $200,000. Second quarter results will be
posted within the next 30 days."
About Bullzi Security Inc.
Bullzi Security is a leader in providing 'converged' security
solutions. Through its consulting services and integrated delivery
systems, Bullzi Security helps to minimize threats to its clients'
assets, facilities, personnel and information systems. As a full
service security firm, Bullzi Security offers compliance programs,
information security services, physical security solutions,
security education programs, document security and investigative
services. Bullzi Security brings a unique set of skills and
experience to ensure that its clients receive the most
comprehensive, cost-effective security services available. The
Bullzi Security trading symbol is (BLLZ.pk).
For more information or to schedule an interview, please
contact: Michael Welch mdwelch@bullzisecurity.com
1-407-562-1864
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